Allianz eyes a reported $15B QBE acquisition

January 31, 2017

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German insurance company Allianz (ETR: ALVG) has informally approached Australian counterpart QBE Insurance (ASX: QBE) about a takeover offer of A$15 (~$11.34) per share, according to reports. That price would represent a 20% premium to the company's closing price on Friday. QBE has denied rumors that it received a formal offer. In addition to expanding its global footprint, picking up QBE would complement Allianz's emphasis on property and casualty insurance over other offerings, per a Reuters report.